When buying a home – think long term.

Buying a home is a big and important investment which means that all aspects should be taken into account when buying one. You should definitely think about how the home will “perform” in several years and if it will meet your needs in ten years or so. Of course, it’s not easy to predict the future, but there are several ways to take precautionary measures when buying a home.

Space and rooms
For example, pay attention to the rooms in the home, their size and purpose. If you have small children, bear in mind that they will grow older and that their needs will change. Therefore, make sure that there is multipurpose space that can be successfully converted into anything you may need it to be, like a home office, additional bedroom, etc.

Location has always played a huge role in the real estate market, so you probably want to make sure that you’ll have access to major amenities. If you have kids, make sure that nearby schools are available as it would be inconvenient to drive them to a faraway school every day when they grow older.

Plan for expansion
It’s always good to have the option to expand your home in case you want to add extra square footage or a detached addition at some point in your life. Many people opt for building a room at the ground level or a sunroom sometime later when the mortgage is paid off or when the kids are big enough and need more space. 

Your budget and future income
Maybe you can manage to come up with a down payment, and your credit score may seem fine at the time of applying for a mortgage, but if you plan to raise a family, make sure to have a solid payoff plan. Before buying a home, familiarize yourself with the maintenance costs and how much it takes to upkeep it. Sometimes, people fall in love with a costly house and think they’ll be able to manage the costs somehow but end up being house poor after a while. You need to know where you stand at and what you expect from your future (moneywise). It’s all about how much house you will be able to afford but still have enough for a decent living.

Avoid crazy short-term trends
Some trends like open-floor plans are a good idea as they are super functional and will probably stay with us for a very long time, just like hard-wood floors which never seem to grow old. Still, be careful with other trends, especially if they are unpractical and short-term. For example, getting a stylish dark stained floor shows more dust, footprints and is harder to upkeep. With time, it can get very annoying. Simply stick to picking things that match your needs, and you won’t go wrong.

Click here to contact Ron Clappison today for all your Calgary real estate needs.

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